Premafin Finanziaria Holding di Partecipazioni SpA (PF.MI), the
holding company of Fondiaria-SAi SpA (FSA.MI), said Thursday it
won't be able to make a decision on an offer by Italian investment
funds Sator Capital and Palladio Finanziaria to invest up to EUR450
million ($599 million) in Premafin.
In a filing to the Italian stock exchange, the company explained
it is bound by a previous agreement signed with Unipol, in which it
committed not to enter talks or start any operations with another
party that could prove incompatible with such agreement.
In addition, Premafin also said that some of its creditors
weren't interested in opening negotiations with these funds.
Unipol Gruppo Finanziario SpA (UNI.MI) last month announced its
plans to merge with Fondiaria, Premafin and Milano Assicurazioni
through a complex operation that would see Unipol take part in a
number of capital increases. The resulting company would become
Italy's biggest insurer by premiums after Assicurazioni Generali
SpA (G.MI).
The offer by Sator and Palladio will expire Mar. 8.
Exchange website: www.borsaitaliana.it
-By Enza Tedesco, Dow Jones Newswires,
enza.tedesco@dowjones.com